Nikon created its DL series of premium compact cameras in order to compete against the likes of Sony and Panasonic in this particular segment. However, things appear to have taken a turn for the worse. Nikon was supposed to launch the DL series in June last year but due to some problems, the launch was delayed. Nikon has now decided to cancel the DL series altogether.

The delay cost Nikon dearly as during that time its rivals came out with new premium compact cameras. The market was already soft and given the added competition, Nikon probably thought it this endeavor wouldn’t turn out to be too profitable so it decided to give up on the DL series. Nikon’s DL series would have featured three premium models with 20.8 megapixel 1 inch sensors, the series also had zoom and superzoom models.

Nikon’s decision to kill the DL series comes amid troubling times for the company. It’s undergoing fundamental restructuring. The company announced today that it’s laying off 1,000 employees via voluntary retirement to further cut costs as it seeks to recover sales that are down 8.2 percent year-over-year.

This is without a doubt a big blow for Nikon because it doesn’t have anything to offer in the mirrorless segment and nothing in the premium compact segment, you can count the Nikon 1 series, but customers are likely going to opt for rivals’ more recent products. Nikon appears to have pinned all of its hopes on its DSLR products, for now.

Filed in Photo-Video. Read more about Nikon. Source: engadget

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